Positive momentum in the Colombo Bourse was seen during July following the announcement of the Domestic Debt Optimisation program by the Central bank, resulting in a minimal impact on the banking industry.

CT CSLSA Securities said  the Colombo Bourse closed positive in July, with the benchmark All Share Price Index (ASPI) rising +20.6% MoM to 11,387 points (an increase of 1,944 index points MoM). Meanwhile, the more liquid S&P SL20 index rose +22.0% MoM to 3,310 points (an increase of 596 index points).

Average daily turnover was reported highest since September 2022 to Rs.3,655 million in July 2023 (vs. Rs. 1,500 million in June 2023). Top contributors to monthly turnover were Agalawatte Plantations (AGAL, Rs.4,697 million, 118mn shares), John Keells Holdings (JKH, Rs.4,092 million, 26 million shares), and Lanka IOC (LIOC, Rs.3,062 million, 22 million shares).

Net foreign inflows recorded at Rs.2,231 million in July 2023 following a net foreign outflow of -Rs.205 million in June 2023.

During the month, net foreign buying was seen in Aitken Spence (SPEN, +Rs.610 million), John Keells Holdings (JKH, +Rs.587 million), and Commercial Bank of Ceylon (Voting) (COMB-N, +Rs.295 million), whilst net foreign selling was seen in Sunshine Holdings (SUN, -Rs.407 million), Ceylinco Insurance (Non-Voting) (CINS-X, -Rs.64 million), and John Keells Hotels (KHL, -Rs.51 million).

CSE off to a positive start in August